This report provides information on the out turn financial position of the Council, as at 31st March 2016. For information and to approve recommendations. (Report of the Portfolio Holder Finance and the Executive Director Commercialisation (S151) enclosed.)
Consideration was given to the joint report of the Portfolio Holder for Finance and the Executive Director Commercialisation (S151) which sought approval of recommendations in respect of the out turn financial position of the Council, as at 31 March 2016. The Financial Report for the year ending 31 March 2016 was attached to the report as Appendix A.
Councillor P Coupland thanked the Interim Chief Accountant (Deputy S151) and his team for their work in preparing the end of year report.
The Lord Porter referred to the £22,000 of funding – personal search fees in respect of whether it would be retrieved back from the Government. The Interim Chief Accountant advised that it was hoped that the money would be claimed back by the authority but this had not yet been confirmed.
The Lord Porter requested that officers work out how much the Council had taken in credit card payments over the past six years. He also requested information in respect of the Internal Drainage Boards in terms of which other authorities had drainage boards and what the total cost was between them and the Council.
RECOMMENDATIONS TO FULL COUNCIL:
a) That the report and Appendix A be noted;
b) That the final structure of council reserves be agreed, in line with paragraph 5.1.7 within the report; and
c) That the carry forward of Capital Budgets of £910,313 be approved, as per paragraph 5.1.9 within the report.
d) That changes to financial reporting for the council evolve, as per paragraph 5.1.10 within the report, and that the Policy Development Panel / Performance Monitoring Panel be regularly updated on progress; and
e) That officers investigate the following:
· How much the Council had taken in credit card payments over the past six years; and
· Which other authorities had drainage boards and what the total cost was between them and the Council.
(Other options considered:
· Not to approve the recommendation; or
· To approve the recommendation without amendments.
Reasons for decision:
· To provide timely information to Members on the overall finances of the Council and to make the best use of resources available.)